U.K. stocks were slightly lower on Monday ahead of a short week of trading before the long Easter weekend.
The benchmark FTSE 100 was down 8 points, or 0.1 percent, at 7,923 after rising 0.6 percent on Friday to reach a record high on hopes that interest rates are on the horizon.
In corporate news, Direct Line Insurance Group shares plunged 12 percent after Belgian insurer Ageas said it won’t make a third takeover offer.
Gamma Communications, a provider of communication products and services, rose about 1 percent as it reported a rise in pre-tax income for the full year, supported by improved revenue, mainly from Gamma Business and Gamma Enterprise segments.
Pennon Group, a water utility company, declined about 2 percent after delivering full year financial performance in line with the management expectations.
Home improvement retailer Kingfisher lost 2.1 percent after its pre-tax profit for fiscal year ended January 31 fell 22.3 percent to 475 million pounds from last year’s 611 million pounds.
Property development company Henry Boot shed 1 percent after its fiscal 2024 profit before tax fell 18 percent to 37.3 million pounds from last year’s 45.6 million pounds.
Market Analysis
FTSE 100 Sees Weak Start To The Truncated Week
2024-03-25 09:24:09
